What is due diligence? Google defines due diligence as reasonable steps taken by a person in order to satisfy a legal requirement, especially in buying or selling something.
Overview
NV5 Real Estate Transaction Services, is a provider of due diligence services related to commercial real estate. There are many components to commercial due diligence, and we can assist in the procurement of reports directly related to the physical property itself.
Consider NV5 Real Estate Transaction Services for:
- ALTA Surveys
- Phase I and Phase II Environmental Site Assessments
- Zoning Reports
- Property Condition Assessments
Ordering Due Diligence Services
To ease the due diligence process, NV5 recommends having certain pieces of information on hand at the time of your request. Though not always possible, here is a list of some items to collect prior to ordering a due diligence report:
For ALTA Land Title Surveys
- Legal description and property address
- Survey requirements and specifications along with a list of required (if any) Optional Table A items
- Current or prior title commitment with copies of supportive documents, if available
- Any information regarding prior surveys, if known
- Name of the Lender, if known
- If available, it is helpful to also provide the name of the current owner; name of the lessor, if a leasehold; or name of the purchaser, if known
- Turnaround time
For PCAs and ESAs
- Correct street address(es)
- Number of parcels
- Acreage
- Number of buildings
- Square footages
- Dates of construction and renovation
- Notable facts about the property/improvements
- An ALTA survey
- Any previous reports, if available
- List of contacts who are knowledgeable about the property and can secure site access
- Turnaround time
Zoning Reports
- Accurate street address
- Description of property use, if available
- Information on existing or pending survey
- Turnaround time
